PMYRX vs. CAPTX

Last updated Jul 14, 2026

PMYRX (Pioneer Flexible Opportunities Fund) and CAPTX (Canterbury Portfolio Thermostat Fund) are both Tactical Allocation funds. Over the past 5 years, PMYRX returned 7.24%/yr vs 5.56%/yr for CAPTX. A 0.71 correlation means they provide meaningful diversification when combined. PMYRX charges 0.90%/yr vs 1.98%/yr for CAPTX.

Performance

PMYRX vs. CAPTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer Flexible Opportunities Fund (PMYRX) and Canterbury Portfolio Thermostat Fund (CAPTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMYRX achieves a 6.97% return, which is significantly lower than CAPTX's 16.08% return.

PMYRX

• 1D: 0.15%
• 1M: 1.28%
• 6M: 4.95%
• YTD: 6.97%
• 1Y: 14.03%
• 3Y*: 18.60%
• 5Y*: 7.24%
• 10Y*: 7.98%

CAPTX

• 1D: 0.28%
• 1M: 0.35%
• 6M: 11.94%
• YTD: 16.08%
• 1Y: 27.90%
• 3Y*: 12.37%
• 5Y*: 5.56%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PMYRX vs. CAPTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PMYRX Pioneer Flexible Opportunities Fund	6.97%	18.78%	23.47%	11.75%	-18.74%	11.25%	6.86%	17.06%	-10.58%	23.68%
CAPTX Canterbury Portfolio Thermostat Fund	16.08%	12.68%	11.07%	0.63%	-11.80%	14.07%	-3.30%	14.16%	-7.98%	12.46%

Correlation

The correlation between PMYRX and CAPTX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.71

The correlation between PMYRX and CAPTX shifts across timeframes, from 0.58 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PMYRX vs. CAPTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PMYRX

PMYRX Risk / Return Rank: 52
PMYRX Sharpe Ratio Rank: 52
PMYRX Sortino Ratio Rank: 57
PMYRX Omega Ratio Rank: 52
PMYRX Calmar Ratio Rank: 52
PMYRX Martin Ratio Rank: 49

CAPTX

CAPTX Risk / Return Rank: 86
CAPTX Sharpe Ratio Rank: 85
CAPTX Sortino Ratio Rank: 82
CAPTX Omega Ratio Rank: 81
CAPTX Calmar Ratio Rank: 89
CAPTX Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PMYRX vs. CAPTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer Flexible Opportunities Fund (PMYRX) and Canterbury Portfolio Thermostat Fund (CAPTX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PMYRX	CAPTX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.22	-0.59
Sortino ratio: Return per unit of downside risk	2.39	3.09	-0.70
Omega ratio: Gain probability vs. loss probability	1.30	1.41	-0.11
Calmar ratio: Return relative to maximum drawdown	2.22	3.53	-1.32
Martin ratio: Return relative to average drawdown	8.04	14.58	-6.54

PMYRX vs. CAPTX - Sharpe Ratio Comparison

The current PMYRX Sharpe Ratio is 1.62, which is comparable to the CAPTX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of PMYRX and CAPTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PMYRX vs. CAPTX - Drawdown Comparison

The maximum PMYRX drawdown since its inception was -30.68%, which is greater than CAPTX's maximum drawdown of -28.25%. Use the drawdown chart below to compare losses from any high point for PMYRX and CAPTX.

Drawdown Indicators

	PMYRX	CAPTX	Difference
Max Drawdown Largest peak-to-trough decline	-30.68%	-28.25%	-2.43%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-7.81%	+1.57%
Max Drawdown (3Y) Largest decline over 3 years	-15.99%	-11.27%	-4.72%
Max Drawdown (5Y) Largest decline over 5 years	-24.97%	-15.88%	-9.09%
Max Drawdown (10Y) Largest decline over 10 years	-30.68%	—	—
Current Drawdown Current decline from peak	-0.15%	-2.50%	+2.35%
Average Drawdown Average peak-to-trough decline	-5.93%	-5.41%	-0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.89%	-0.17%

Volatility

PMYRX vs. CAPTX - Volatility Comparison

The current volatility for Pioneer Flexible Opportunities Fund (PMYRX) is 2.10%, while Canterbury Portfolio Thermostat Fund (CAPTX) has a volatility of 5.84%. This indicates that PMYRX experiences smaller price fluctuations and is considered to be less risky than CAPTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMYRX	CAPTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	5.84%	-3.74%
Volatility (6M) Calculated over the trailing 6-month period	6.61%	10.24%	-3.63%
Volatility (1Y) Calculated over the trailing 1-year period	8.52%	12.44%	-3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.69%	10.09%	+3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.07%	11.80%	+1.27%

PMYRX vs. CAPTX - Expense Ratio Comparison

PMYRX has a 0.90% expense ratio, which is lower than CAPTX's 1.98% expense ratio.

Dividends

PMYRX vs. CAPTX - Dividend Comparison

PMYRX's dividend yield for the trailing twelve months is around 10.32%, while CAPTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAPTX Canterbury Portfolio Thermostat Fund	0.00%	0.00%	0.00%	0.63%	0.00%	13.02%	0.15%	1.21%	1.35%	0.99%	0.00%	0.00%
PMYRX Pioneer Flexible Opportunities Fund	10.32%	9.83%	22.31%	1.03%	4.02%	2.12%	1.32%	2.50%	12.83%	8.93%	1.50%	7.13%

Frequently Asked Questions

Can I hold both PMYRX and CAPTX in my portfolio?

PMYRX and CAPTX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PMYRX or CAPTX?

CAPTX has higher volatility (5.84%) compared to PMYRX (2.10%). In terms of maximum drawdown, PMYRX dropped -30.68% vs CAPTX's -28.25%.

Which has better risk-adjusted returns?

CAPTX currently has the higher Sharpe Ratio (2.22 vs 1.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.